BioMarin sees mid-teen growth rate through 2034, to cut $500M in costs

BioMarin Pharmaceutical said it hosted an investor day earlier where it provided an overview of the company’s new corporate strategy “to deliver sustained value creation and introduced longer-term Total Revenue and Non-GAAP Operating Margin guidance.” The company’s strategy is “now built around three business units, Enzyme Therapies, Skeletal Conditions and Roctavian, designed to support the focus on sustainable growth.” The updated corporate strategy also includes the implementation of a $500M cost transformation program that will contribute to Non-GAAP operating margin targets set for 2026 and beyond, BioMarin added. The company also highlighted its innovation strategy that supports its pipeline, including 11 anticipated product launches by 2034 and two by 2027. “The company highlighted its strategy for optimizing its growing and durable Enzyme Therapies business unit, as well as its plan for sustainable leadership across multiple Skeletal Conditions, building on the strength of Voxzogo for the treatment of achondroplasia. The combined business units are expected to drive a targeted mid-teen Compounded Annual Growth Rate through 2034,” it added.